Nintendo shares fall on Citigroup downgrade

IlyaGarger

HONG KONG (MarketWatch) -- Shares of video-game console maker Nintendo Co. were down more than 4% in afternoon trading after Citigroup lowered its rating on the stock. Nikko Citigroup cut the stock's rating to neutral after Nintendo announced Thursday afternoon it would release its Wii game console on Dec. 2 in Japan, and that the console would sell for 25,000 yen ($212). While the announcement was within market expectations, it confirmed that Nintendo's device would arrive on the market later than Sony's PS3. Citigroup said the Wii is still likely to be the market-share leader among game consoles in Japan. Shares of Sony, Nintendo's chief rival, were down 0.8%.

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